Iomega gaat een aantal onderdelen van het failliete Syquest, eens de grootste concurrent van Iomega, overnemen:
Posted 13/01/99 2:15pm by Tony Smith
Iomega gobbles up SyQuest for $9.5 million
Iomega has announced it has agreed to buy "certain assets" of its erstwhile storage rival SyQuest for a cash payment of $9.5 million.
The deal will give Iomega SyQuest's technology and intellectual property plus its inventory and US fixed assets. The purchase is conditional on the transfer of Iomega of inventory and equipment from SyQuest's Malaysian subsidiary.
However, the agreement does not transfer any of SyQuest's liabilities or material obligations, such as warranties and customer support, or any debts owed to SyQuest by third partes. All these will remain the responsibility of SyQuest itself.
The deal follows SyQuest's collapse and filing for Chapter 11 protection in November 1998. Soon after, SyQuest lawyers announced it was pursuing a buyer, and Iomega was widely tipped as the most likely purchaser.
Zie dit nieuwsbericht van The Register voor meer info.